Wayne Oldenburg sells River Hills home for $2.55 million

Oldenburg Group founder Wayne Oldenburg has sold his River Hills home for $2.55 million, according to state records.

Built in 1994, the 21,036-square-foot home sits on a 6.8-acre site. It has 6 bedrooms and 10 bathrooms. Its amenities include a wine cellar, sauna and a fitness room. The property has a pond, tennis court and a pool with a waterfall.

The home was listed for sale by Katie Falk of the Falk Ruvin Gallagher Team.

Oldenburg founded Oldenburg Group Inc. in 1981. The company was a manufacturer of mining equipment, commercial lighting and military products. In 2006, Oldenburg sold its coal mining equipment business to Joy Global Corp. (now Komatsu Mining) for $140 million, but kept its division that made machines used in hard-rock underground mining. In 2016, it sold its underground mining equipment and defense businesses to a New York-based private equity firm.

Oldenburg kept its commercial lighting equipment division, Glendale-based Visa Lighting. He continues to serve as chief executive officer of the company, which supplies performance engineered products that are used in the architectural lighting industry.

Oldenburg was recently recognized by BizTimes Milwaukee with its Lifetime Achievement Award.

Oldenburg is also past-president of ABCD: After Breast Cancer Diagnosis, a nonprofit organization that provides support of people affected by breast cancer; the organization was founded by his late wife, Milwaukee TV news anchor Melodie Wilson. For years, Oldenburg has provided rent-free space in Visa Lighting Inc.’s Glendale office building to three nonprofits: ABCD, Girls on the Run and SHARP Literacy.